For investment advisers registered with the Securities and Exchange Commission, the annual updating amendment of Form ADV Parts 1 and II must be completed, and Form ADV Part 1 must be filed electronically through the Investment Adviser Registration Depository (IARD), within 90 days after such investment advisers’ fiscal year-end. March 31, 2010, is therefore the filing deadline for an investment adviser whose last fiscal year ended December 31, 2009. Form ADV Part II is not filed with the SEC but is deemed filed once finalized. If an adviser is registered in a state that requires an annual amendment, the state-registered adviser also should file the annual updating amendment within 90 days after its fiscal year-end.
In recent years the SEC has waived any IARD annual filing fees. However, this year, SEC-registered advisers must pay an annual filing fee, which will be based on assets under management. The filing fees for the annual amendment filing are $40 for assets under management which are less than $25 million, $150 for assets under management between $25 million and $100 million, and $200 for assets under management which are more than $100 million.